There seems to be an unwritten rule among billionaires: don’t criticize each other’s lifestyle.

Bill Gates and Warren Buffett, for instance, spend a lot of time pressing other billionaires to give away more money and do more for society. But they have never ridiculed Paul Allen’s megayachts and private jets, or Larry Ellison’s real-estate sprees.

Perhaps that is why Indian billionaire Ratan Tata has sparked controversy by weighing in on the vertical palace owned by fellow Indian billionaire Mukesh Ambani, shown at left.

In an interview in The Sunday Times of London, Tata was quoted as saying that the 27-storey home reportedly costing up to $1 billion, may have been ill-considered in a country of such widespread poverty. Read More »

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